Vendor name and TIN change

September 1, 2022

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Q. One of our vendors changed their name and TIN and requested the change from the IRS. We ran a TIN check, but it looks like the IRS didn't update the record yet and the TIN doesn't match. Should we wait for the letter from the IRS to create a new vendor record and send payments, or can we use the documents they sent us where they requested the change from the IRS? A. (Addressed by IOFM's third-party vendor master file expert, Debra Richardson -- https://www.debrarrichardson.com.) Based on…

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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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